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15 Dec 2014 16:54
Johnston Press plc (the "Company")
DIRECTOR'S/PDMR SHAREHOLDINGS
The Company announces that on 12 December 2014 Ashley Highfield, Chief Executive Officer was granted an award over ordinary shares of 1p each in the Company under the terms of the Johnston Press Performance Share Plan 2006 (the "PSP"). No consideration was paid for the grant of the PSP awards.
Name | Total number of shares awarded | Beneficial Interest* | Total Interest Including Non-Beneficial** |
A Highfield | 50,078 | 152,847 | 628,663 |
Subject to the achievement of the performance criteria, the PSP awards will normally vest on 12 December 2017 and may, to the extent vested, be exercised during the 12 month period ending 11 December 2018. No consideration is payable on the exercise of the PSP awards. Under the provisions of his contract of employment Mr Highfield may invest a portion of his cash bonus payable in 2014 (in respect of 2013 performance) and receive a matching award on a 2-for-1 basis on a gross of tax basis. This award represents the matching element of an investment of sums equivalent to his cash bonus in the purchase of shares by Mr Highfield and has been calculated on the basis of the middle market quotations of the Company's share price during the period of five days ending on the date before the date of grant, being £1.5975.
* Beneficial Interest: This includes shares held in trust under the Johnston Press Share Incentive Plans, which holds shares to satisfy awards under those plans (open to all eligible employees in the United Kingdom).
** Total Interest Including Non-Beneficial: This includes shares held by Johnston Press plc Employee Share Trust (a Jersey Trust) which holds shares in order to satisfy awards under the Company's share plans for executives.
This notification is made in accordance with DR3.1.4R(1)(a)
For further enquiries please contact the Company Secretary:
Peter McCall T: 0131 311 7500
15 December 2014
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